The Zhitong Finance App learned that Bairong Smart-W (06608) rose more than 6% in the afternoon. As of press release, it rose 4.94% to HK$5.945, with a turnover of HK$4.7547 million.

According to the news, Bairong Intelligence recently announced that the company signed a partnership agreement with CICC Capital and two limited partners through a comprehensive affiliate, Beijing Mathematical Technology Preferential, to jointly initiate the establishment of an industrial fund with an initial size of 500 million yuan. The fund will focus on leading and high-quality growth stage enterprises in new productivity-related industries such as AI, underlying computing power, advanced manufacturing, and smart hardware.

Notably, Bairong Intelligence plans to award 24.395 million shares to Zhang Shaofeng, the founder, chairman of the board of directors and CEO of the company, with a market capitalization target. It is proposed to be awarded in five batches, with corresponding arithmetic average market capitalization thresholds of HK$6 billion, $7 billion, $8 billion, $9 billion, and HK$10 billion respectively. Zhang Shaofeng needs to continue to serve as chairman of the board of directors or executive director of the company to continue to promote the upgrading of the company's AI strategy.

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